ST. PETERSBURG, FL - Bison Financial Group, Inc., a mortgage brokerage business based here announces the closing of a $2,200,000 loan used to recapitalize the existing partnership structure and provide for future advances for rehab over the next 12 months to significantly increase the value of the property. The property is a 104 unit apartment complex located in Indianapolis, Indiana. The loan was placed with a National Portfolio Lender for the borrower, an Orlando, Florida based investment group. The fixed rate loan was structured as a 12-month bridge with a 4-year mini-perm at an aggressive interest rate with minimal personal recourse to the principals of the investment partnership.

According to David Repka, President of Bison Financial Group, Inc., "This transaction required a lender that combined speed, flexibility and a willingness to think outsidethe box to craft a very specific financing solution." Bison loan officer, Jon Kline adds, "Upon being left at the alter by a national brokerage firm and an international investment bank after spending significant dollars for appraisal, environmental, engineering and attorneys the borrowers approached Bison about securing a lender that could get their arms around their complex recapitalization structure in a short time frame. Our lender delivered as promised and we have a happy borrower that will be a repeat customer."

Michael Pierce, one of the principals of the borrower noted, "From our first phone call with Jon Kline to the wiring of closing funds your group never let up one second! Your ability to 'tune-in' and understand our business methodologies and the strengths & weaknesses of our group enabled you to put us with the correct lender for this transaction. Thanks again for helping us get this deal done! We're now legitimate 'owner-developer-managers' of multi-family property on a national level."

Bison helps real estate entrepreneurs buy, sell and finance income producing real estate and has closed over $200 million in bridge, permanent and construction loans on a wide variety of product types since 1994.